Fastest Growth in More Than Two Years for Chinese Factories

China’s factory activity expanded at its fastest pace in more than two years in October as a jump in domestic demand offset weak export orders, but companies continued to shed jobs, a private business survey showed on Tuesday.

The Caixin/Markit Manufacturing Purchasing Managers’ index (PMI) rose markedly to 51.2, beating analysts’ forecasts of 50.2 and much higher than September’s 50.1. The reading was the strongest since July 2014.

The index has now been above the 50-point neutral level which separates expansion in activity from contraction for four straight months, adding to growing views that the world’s second-largest economy is stabilising thanks to a government infrastructure spending spree and a housing boom.


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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.